Largest Like For Like Sales In 8 Years

New figures have revealed the largest like for like increase in sales since 2007.

The Retail Excellence Ireland figures review the third quarter of 2015 and are compiled from information collected in over 4,000 stores.

Welcoming the figures, Fine Gael's Peter Fitzpatrick said: "One particularly strong area of growth has been in the sale of goods for homes due to the success of the Home Renovation Scheme. The extension of this scheme was recently announced by the Minister for Finance, Michael Noonan, as it has proven a great assistance to families across the country.

"Sales of hot beverages were also extremely strong with a 13.15% increase. This is a great indicator that more people are at work and grabbing a coffee on their way. 

"It is great to see such strong growth in sales. As the economy recovers and with taxes reduced, people have a little more money in their pocket to spend. However there is no doubt that people are still looking for value for money and it is important that our retailers provide this. 

"While it is extremely encouraging to see such strong retail figures, I would encourage everyone, where they can, to spend their money locally. This will boost local businesses and secure local jobs.

"From January, as a result of the reduction to USC rates announced in Budget 2016, workers will have more money to spend. It is only right that as the economy recovers, the people who have worked hard throughout the recession begin to benefit. 

"Strong retail figures show that the economy is recovering, that we are on the right track. We must do everything that we can to support continued growth and to ensure stability to support continued sales figures into the future."

(MH)